Reddit (NYSE:RDDT) Given New $210.00 Price Target at Truist Financial

Reddit (NYSE:RDDT) had its price objective trimmed by Truist Financial from $275.00 to $210.00 in a report issued on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Reddit in a research note on Wednesday, August 5th. Sanford C. Bernstein restated a “market perform” rating and set a $120.00 price target on shares of Reddit in a report on Friday. Morgan Stanley dropped their price objective on shares of Reddit from $240.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday, August 21st. Oppenheimer downgraded shares of Reddit from an “outperform” rating to a “market perform” rating in a research report on Friday. Finally, Cantor Fitzgerald decreased their target price on shares of Reddit from $170.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $197.61.

Reddit Stock Performance

NYSE RDDT opened at $91.74 on Friday. The firm’s 50 day moving average price is $150.37 and its two-hundred day moving average price is $160.26. Reddit has a twelve month low of $89.28 and a twelve month high of $263.50. The stock has a market cap of $17.65 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 0.60 and a beta of 2.05.

Reddit (NYSE:RDDT) last issued its earnings results on Thursday, October 29th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.33 by $0.07. Reddit had a return on equity of 31.67% and a net margin of 32.10%. The business had revenue of $894.96 million during the quarter, compared to analysts’ expectations of $874.91 million. During the same quarter last year, the firm posted $0.80 earnings per share. Reddit’s revenue was up 53.0% compared to the same quarter last year. On average, research analysts forecast that Reddit will post 5.28 EPS for the current fiscal year.

Insider Buying and Selling at Reddit

In other Reddit news, Director Robert A. Sauerberg sold 5,128 shares of Reddit stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $159.92, for a total transaction of $820,069.76. Following the completion of the transaction, the director directly owned 27,087 shares of the company’s stock, valued at approximately $4,331,753.04. This trade represents a 15.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steve Huffman sold 17,308 shares of the business’s stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $158.57, for a total transaction of $2,744,529.56. Following the completion of the sale, the chief executive officer owned 336,432 shares in the company, valued at $53,348,022.24. This represents a 4.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 306,052 shares of company stock valued at $49,754,523. 28.48% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Reddit

Hedge funds have recently made changes to their positions in the company. State Street Corp increased its stake in shares of Reddit by 8.7% in the 2nd quarter. State Street Corp now owns 2,979,587 shares of the company’s stock valued at $517,197,000 after acquiring an additional 237,523 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Reddit by 21.8% during the second quarter. Wellington Management Group LLP now owns 1,564,535 shares of the company’s stock worth $271,572,000 after buying an additional 280,030 shares during the period. DSM Capital Partners LLC boosted its position in Reddit by 5.3% during the 1st quarter. DSM Capital Partners LLC now owns 848,206 shares of the company’s stock worth $114,211,000 after acquiring an additional 42,808 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Reddit by 74.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 809,063 shares of the company’s stock valued at $115,243,000 after buying an additional 345,735 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Reddit by 8.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 481,893 shares of the company’s stock worth $83,647,000 after acquiring an additional 39,540 shares in the last quarter.

Key Reddit News

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Reddit reported third-quarter revenue of approximately $895 million, up 53% year over year, and earnings of $1.40 per share, exceeding analyst expectations. Advertising revenue increased 54%, while improved monetization and first-week app retention—up more than 50% year over year—provided evidence of continued platform engagement. Reddit Q3 Earnings Beat on Ad Growth and Strong Monetization
• Positive Sentiment: Several analysts retained constructive views despite reducing their targets. Citigroup, Truist Financial, B. Riley and Wedbush still rated RDDT Buy or Outperform, with targets above the current trading level, suggesting potential long-term recovery if user engagement and monetization improve. Reddit Analysts Slash Their Forecasts Following Q3 Earnings
• Neutral Sentiment: Reddit plans to test a primarily logged-in experience in international markets to reduce data scraping, strengthen data protection and limit its reliance on search referrals. Management is also responding to the growing impact of Google AI search features on website traffic. Reddit Search Traffic Declines and Visitor Sign-In Plans
• Negative Sentiment: Management’s outlook was the main catalyst for the selloff. Search traffic was described as meaningfully lower, and daily active unique visitors could decline by a low double-digit percentage in the fourth quarter if Google referrals continue weakening. The logged-in-only strategy could further reduce casual and logged-out users before improving engagement or monetization.
• Negative Sentiment: Analysts broadly cut price targets, including Wells Fargo to $110, Cantor Fitzgerald to $120 and Bernstein to $120; Oppenheimer and Citizens JMP downgraded the stock to market perform. Investors are concerned that international user growth is less valuable than U.S. growth, while Meta and Google remain powerful advertising competitors.
• Negative Sentiment: Levi & Korsinsky and Block & Leviton announced investigations into whether Reddit adequately disclosed the risks associated with its logged-in-only transition and search-traffic exposure, adding legal and reputational uncertainty. Reddit Investigation Notice

Reddit Company Profile

Reddit, Inc operates a global online platform where users participate in communities organized around shared interests, topics and activities. Members can submit text posts, links, images and videos, as well as comment on and vote on content. The platform includes thousands of communities, commonly known as subreddits, covering subjects such as news, entertainment, technology, sports, finance and lifestyle.

Reddit generates revenue primarily through digital advertising, offering advertisers access to audiences based on community interests and user engagement.